Heading out the door, but before I go: $ES_F 1715 is my new target below:


Featured Breadth Chart of the Day:

image

Nice bounce up on the New Highs.  Watching the Jobs number today.  We could get an over reach.  It is hard to tell if good news equates good market news or not.


Quote of the Day:
The hunger for love is much more difficult to remove than the hunger for bread.
–Mother Teresa


Comments and Levels for the Front(S&P500 – Emini futures) contract:

Short:  1780
Long: 1715

image

We have dropped our lower target yet again to 1715 now.  We would like to see 1780 hold although we can see a future with 1800 in it.  We do expect to be drilling deeper than 1732 in the days ahead.


On the MiMSmile with tongue out

image

Those strong buying MiMs dried up yesterday.

If you have streaming issues, please let me know.  info@mrtopstep.com

Date Of Signal Direction x:00 Entry/Close x:20 Entry/Close x:30 Entry/Close
2/3/2013 Long -0.64 -2.80 -3.90
2/4/2013 Long -1.55 -0.70 4.85
2/5/2013 Long 1.21 -1.30 -2.43
Total   .98 -4.10 -1.48

* – NFP Day before and day of.
** – New Year’s Eve / End Of Year

If you want to join the meter readers you can go to: Join the MiM


Comments about TLT (Twenty year Bond ETF):

image

Slightly more selling on the TLT as money slows the transition to cash.

>>> You can follow me on Twitter  @redliontrader <<<<<


Breadth Charts in Full:

Zweig Breadth Thrust

image

Still waiting. 


Cumulative Volume Index:

image

Hold.


Number of NYSE issues trading ABOVE their 40 day moving average (40DPI):

image

Hold.


New Highs / New Lows ratio chart :

image

Not much of a bounce, we would like to see some up and then another collapse. 


Trenders

Short Term Trender –  McClellan Summation Index:

image

Bearish.


Long Term Trender –  Cumulative 4-week Highs – Lows (the fat lady):

image

Bearish.


Parting Shot: 

 

Holiday in the Sun.  See you all in a week!

image

 

As always, we want your feedback!  marlin@redliontrader.com

Thank you for Reading –
Marlin aka RedlionTrader @redliontrader

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